MODELING OF INSTITUTIONAL INFRASTRUCTURE FOR THE FORMATION OF FINANCIAL SUPPORT FOR LIGHT INDUSTRY ENTITIES

Abstract

Effective activity of economic entities is one of the most important modern features of market economy and a basic prerequisite for the national economy development of any country in the world, regardless of its level of development. Today there is a process of gradual integration of Ukraine into the European Union with its specific harsh market conditions, which pose a problem of survival for domestic economic entities. Industry is playing an increasingly important role in creating new jobs, developing competition and fostering the country's economic growth by generating a large portion of national income and gross domestic product. Light industry is a component of the Ukrainian manufacturing industry and the multidisciplinary sector of the economy, which plays an important role in ensuring economic and strategic security, employment and raising its standard of living. Light industry is a component of the Ukrainian manufacturing industry and the multidisciplinary sector of the economy, which plays an important role in ensuring economic and strategic security, employment and raising its standard of living. Ukraine's light industry, by its potential, is capable of meeting the demand of the population with products of sufficiently high quality, but because of irrational domestic policy, state policy in the sphere of regulation and lack of financial resources is characterized by negative dynamics. The article proposes scientific and practical recommendations for improving the institutional infrastructure for the formation of financial support for light industry entities and is considered at the macro, meso and micro levels. At the macro level, it is proposed to create various horizontal mergers of enterprises for joint investment and production projects and preferential taxation of the industry; it is advisable to use international product certification and standardization of production processes at the meso level; for the micro level, structural and innovative improvement of production and implementation of a resource-saving development model are important, as they will help to expand the possibilities of financial support for the economic entities of the industry.